You probably know two things about IRAs:
- You know that the R in IRA stands for retirement.
- You know that it is a way to save money without your interest being taxed on an annual basis.
But did you know these two things?
- New more flexible laws allow you to use your IRA savings for a first-time home purchase, medical or college expenses, depending on the type of IRA?
- There is a special IRA, just for education-related expenses (Coverdell Education Savings Account)?
There are three types of IRAs:
401(k) Support:
- Keep your retirement money moving ahead of you. Rolling over your 401(k) account or other retirement funds into a tax deferred IRA is easy. We can help you keep your long-term financial strategy on track. Call any branch for more information.
Make your 2009 IRA Contribution:
- If you haven't made an IRA contribution for tax year 2009, you can still do so until the April 15, 2010 deadline.
Making regular contributions to your IRA can be one of the best ways to
build your retirement assets. Take advantage of the tremendous growth
potential of tax-deferred investing by contributing the maximum to your
IRA. $5000 is the maximum contribution unless you are over 50 years old,
then it is $6000.
ProMedica Federal Credit Union has a current rate of 2.02%.
